The Township’s electric aggregation program with Dynegy expired on the December 2022 Duke bill. Energy Alliances, the Township’s aggregation consultant, negotiated with multiple suppliers and was able to lock in a rate of 6.43¢ per kWh with Energy Harbor starting with the June 2023 bill and continuing through the May 2025 bill (24 bill periods).
The 6.43¢ per kWh may sound high. However, based on how Duke uses an auction process to set their generation supply rates (learn more here), Energy Alliances anticipates that Duke’s default generation rate will around 9.5¢ per kWh starting with the June 2023 bill.
A rate of 6.43¢ per kWh for the aggregation would save participants around 30% compared to taking Duke’s default supply rate.
The aggregation will have no termination fees with participants able to leave at any time without paying a fee.
Those eligible for the aggregation program should see opt-out letters mailed in the second half of March.
The aggregated gas supplier for Sycamore Township is now AEP Energy. The Township ended its contract with Constellation when the last agreement expired in May, 2022. At that point, energy consultant Energy Alliances recommended the Township hold off on locking into any agreement due to a significant increase in energy prices. Since then, Energy Alliance was able to take advantage of a dip in the market to lock in a fixed price of $0.839 per ccf with AEP Energy until October 2024.
AEP Energy 888-659-3888